Philosophy Dictionary of ArgumentsHome
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| Utility: In philosophy, the term utility or “benefit” refers to an advantageous or valuable result or advantage that arises from a particular action, situation, or circumstance. The term is often considered in ethical or consequentialist contexts. In economics, the term is related to decisions and opportunities. See also Decision theory, Rational choice, Public choice, Opportunity cost._____________Annotation: The above characterizations of concepts are neither definitions nor exhausting presentations of problems related to them. Instead, they are intended to give a short introduction to the contributions below. – Lexicon of Arguments. | |||
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Axiomatic Utility Theory on Utility - Dictionary of Arguments
Norgaard I 298 Def Utility/Axiomatic Utility Theory: ‘Utility’ in contemporary economics is perhaps most accurately understood as ‘that which represents a person's preferences’ (Broome 1991(1): 3) (see also Harsanyi 1977(2)). This is ‘axiomatic utility theory’, in which the concept of utility means nothing more and nothing less than the value taken by a function describing a person's preferences over a set of alternative goods and services. These preferences must conform to a set of axioms; hence axiomatic utility theory. 1. Broome, J. 1991. Utility. Economics and Philosophy 7: 1–12. 2. Harsanyi, J. C. 1977. Rational Behavior and Bargaining Equilibrium in Games and Social Situations. Cambridge: Cambridge University Press. Dietz, Simon: “From Efficiency to Justice: Utility as the Informational Basis for Climate Strategies, and Some Alternatives”, In: John S. Dryzek, Richard B. Norgaard, David Schlosberg (eds.) (2011): The Oxford Handbook of Climate Change and Society. Oxford: Oxford University Press._____________Explanation of symbols: Roman numerals indicate the source, arabic numerals indicate the page number. The corresponding books are indicated on the right hand side. ((s)…): Comment by the sender of the contribution. Translations: Dictionary of Arguments The note [Concept/Author], [Author1]Vs[Author2] or [Author]Vs[term] resp. "problem:"/"solution:", "old:"/"new:" and "thesis:" is an addition from the Dictionary of Arguments. If a German edition is specified, the page numbers refer to this edition. |
Axiomatic Utility Theory Norgaard I Richard Norgaard John S. Dryzek The Oxford Handbook of Climate Change and Society Oxford 2011 |
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> Counter arguments in relation to Utility
